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16 . Assume that a stock is expected to pay dividends at the end ofYear 1 and Year 2 of $1.25 and $1.56, respectively. Dividends

16 . Assume that a stock is expected to pay dividends at the end ofYear 1 and Year 2 of $1.25 and $1.56, respectively. Dividends are expected to grow at a 5% rate thereafter. Assuming that discount rate is 11%, the value of the stock is closet to?

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